Broker start-ups face tough time ahead due to lack of faith
Broker start-ups face a tough start after new research revealed that nearly one in 10 companies will avoid trading with a business if it is less than a year old.
Research by business intelligence firm Creditsafe has found that 52% of companies would also refuse to deal with an enterprise that only had a mobile contact number while 21% refused to do business with a company that had not yet filed accounts.
David Knowles, business development director at Creditsafe, said: "The financial and insurance sector is a notoriously tough market, especially in the current economy. New start-ups in the broker market are under the dual pressure of trying to prove
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